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Showing posts from July, 2015

Economics, power and the constrained democratic space: The referendum in Greece

As Greece prepares to vote on the referendum on July 5, 2015, we are witnessing the direct confrontation between democracy and economics, bringing to the fore the threat to democracy embodied in elite-driven expertise-based decision making reflected in the decision making structures of the Troika, namely the European Commission, the European Central Bank and the International Monetary Fund. As a condition for the debt bailout program, the Troika imposed on Greece the same policy conditions that have been carried out for the previous five years to be continued, a condition that would continue to have the greatest impact on the poorest segments of the population.   Prof Dutta on Democracy and Greek Referendum Agreeing to the condition would mean that the popularly elected Syriza government that came to power on the mandate to offer an alternative to the austerity measures that have been carried out in Greece since 2010 would either need to radically shift its stance on aust